Best Asset Tracking for Construction

By Dan Barraclough | Published: 19 October 2020

Asset tracking can help your construction company cut costs. Here’s how…


This article will build a clear picture of the best asset management software for construction companies, demonstrating the key benefits of using this software while providing you with information on the top suppliers in Australia.

You can stop digging around online and craning your neck in search of suppliers, because you’re about to read everything you’ll need to know about asset tracking for your industry including the estimated asset tracking costs for each supplier.

The best asset management software for construction

These seven suppliers tick all the right boxes, each offering an impressive range of features to help you track your construction assets. Let's discuss them in more detail…

Verizon Connect

Best Overall Asset Tracking for Construction

  • Bespoke pricing

Need to feel more connected to your assets? Then Verizon should be the supplier on your horizon.

It's one of the biggest names in the business, offering GPS tracking for your construction vehicles and equipment, plus a fully customisable software that can track your engine hours to give you full visibility of your construction vehicles' maintenance needs.

Pros:

  • Excellent reporting features
  • Very easy to use

X Cons:

  • Customer service could be better

Already like the sound of asset tracking for construction businesses? We can put you on the right track, right here, right now. Simply tell us about what you need, and we’ll match your business up with asset tracking suppliers that suit your exact requirements. You’ll then hear from those suppliers, who’ll offer free, non-obligation quotes for you to compare.


Telstra

Best for Large Projects

  • Bespoke pricing

From its own 2019 study, Telstra found that Australian businesses are losing more than $4.3 billion in assets collectively each year.

To avoid your business contributing to that figure, you’ll need one of the best asset management software solutions for construction companies – and Telstra is right up there.

You can track your construction site assets with its GPS and Bluetooth trackers, and connect the data to your own systems (rather than the Telstra web portal), making it ideal for large corporations with their own unique software.

Pros:

  • Software is easily integrable with your own
  • Won the ‘Innovation – Large Company’ category at the 2019 Acomms Awards

X Cons:

  • Asset tracking devices could be cheaper to buy

Asset Panda

Best for Customisation

  • Bespoke pricing

As per its website, Asset Panda aims to ‘eliminate costly headaches for construction companies’. Need we say more? Of course we could.

One of Asset Panda’s clients, Kinkaid Civil Construction, claimed that using the Asset Panda app has helped save about four hours a day on its overall asset tracking efforts.

All in all, Asset Panda is a reliable and customisable asset management software, offering powerful tool tracking features and the ability to add unlimited users.

Pros:

  • Customise all your data fields and add unlimited users
  • Low annual price (estimated $40 - $125 per month depending on your needs)

X Cons:

  • No offline mode in the mobile app
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Hilti

Best for Onboarding and Customer Service

  • Bespoke pricing

Hilti’s construction equipment asset management software, On!Track, combines robust asset tag hardware and cloud-based software to help you keep track of your most valuable construction machinery and equipment.

This supplier will first offer a consultation, then develop and implement a tailored asset management solution for your construction business. Plus, you’ll receive training on how to get the most out of the app and software.

Pros:

  • Provides training so your business can hit the ground running
  • Add unlimited users to the software

X Cons:

  • The app could be more user-friendly

ShareMyToolBox

Best for Tracking Small Construction Tools

  • Prices start from $50 per month
  • Free trial

ShareMyToolBox is ideal for construction workers who are frequently exchanging tools. This software provides detailed information on the location of your assets, even after the tools have left the warehouse (many asset tracking systems only tell you when the asset has arrived or left).

With its ‘Base System’ plan, costing $50 per month, a single user can track unlimited assets, and your business will gain access to its customer support and training. You can also add up to five extra users to the system at $10 per user, per month.

Pros:

  • Highly accurate GPS tracking devices
  • Set pricing plans make it easy to plan your spending

X Cons:

  • Might be too expensive for some small businesses

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EZOfficeInventory

Best for Ease of Use

  • Price plans starting from $35 per month

EZOfficeInventory will make your job on the construction site feel more seamless than ever.

Using its cloud-based software, you can forecast tool availability, extend equipment lifetime with maintenance checks, and track large volumes of assets with custom Barcodes and QR codes.

Its app scores 4.5/5 on Google Play and the App Store, which proves you’d be hard pressed to find a more user-friendly asset management software for construction businesses.

Pros:

  • Intuitive and user-friendly mobile apps
  • More affordable pricing plans than ShareMyToolBox

X Cons:

  • Check-in-and-out options on the QR interface can appear complicated

FieldAware

Best for Small Projects

  • Bespoke pricing

Helping to increase asset awareness within your construction company is FieldAware, trusted by thousands of companies around the world.

FieldAware’s construction equipment asset management software will help you reduce asset downtime, pinpoint your most valuable assets, and identify when they need to be serviced. Those are the most important asset management features that will help your business cut costs and boost productivity.

Pros:

  • Web-based, so you don’t need to install any software

X Cons:

  • Not suitable for large operations

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Benefits of Asset Management Software for Construction

Remember Telstra’s 2019 study into lost assets? It revealed that companies lose on average 6% of assets each year, which equates to around $6 billion in assets collectively.

Installing asset tracking software will keep you from losing assets, and, ultimately, dollars. But how does asset management software help your business cut costs, exactly?

GPS, RFID, and Bluetooth trackers enable you to locate your assets at any given time, helping to significantly reduce the chance of losing your assets. By never losing your assets, you can rest assured you’ll have the right tools to accept any new contracts.

You can also track the usage of your vehicle assets, helping to reduce their idle time (when they’re not being used), which makes sure you’re getting your money’s worth from each asset.

Depreciation management is another great feature that can keep cash flowing into your construction business. It involves tracking the performance of your assets and calculating how the long-term usage has affected the value of that particular asset. This helps you plan maintenance at the right times, and saves you spending unnecessarily on upgrades.

Asset tracking software usually comes with a range of features that help to automate your workflow, such as logging the asset usage hours and location, helping you save money on labour costs and cut down on wasted work hours. 

Next Steps

Your search for the best asset management software for construction businesses is over. We’ve shown you seven of the best suppliers in Australia, explaining who they’re best for and how they can help your business keep track of its assets.

What next? Well, this is when we match your business with the right asset tracking supplier, and your cost-cutting begins.

To get the ball rolling, all you need to do is tell us what you need from your construction asset tracking software, and we’ll find the perfect supplier for your exact requirements. You’ll then receive free, non-obligation quotes for you to compare.

Dan Barraclough

Dan’s a Senior Writer at Expert Market, specialising in digital marketing, web design, and photocopiers, amongst other topics.

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